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ii A finding by a County State or Federal agency or department with <br /> the relevant expertise in the field of natural resources <br /> If the director's findings are favorable the petition shall be approved and <br /> the land shall be declared dedicated. A royal of the etition to dedicate shall <br /> constitute a forfeiture on the part of the owner of any right to change the use of <br /> the land to a use other than preservation for a minimum period of twenty years <br /> In order to place prospective buyers on notice of the rollback tax liability the <br /> owner shall, within sixty days of notice of approval record the dedication in <br /> accordance with the procedures of the bureau of conveyances <br /> <br /> tc Native forest dedication value <br /> Dedicated native forest land shall be assessed at a referential er-acre value in <br /> its restricted preservation use In determining the value of lands which are classified <br /> native forest the director shall assi n the value of the lowest a ricultural use cate or <br /> that the land could qualify for if it were to be put into agricultural use No preferential <br /> value shall be granted to native forest land unless it is dedicated <br /> Breach of dedication. <br /> The dedication shall be deemed breached and the tax assessment rivile e <br /> cancelled retroactive to the date of the dedication or the latest renewal eriod and all <br /> differences in the amount of taxes that were paid and those that would have been due <br /> from assessment m the higher use shall be payable with a ten percent penalty and the <br /> native forest classification shall be rescinded upon any of the following_ <br /> Failure of the owner to observe the restrictions on the use of the land or <br /> L2j The cover of native forest species falls below sixty percent or <br /> j3~ The property is rezoned to a higher use at the owner's request or <br /> The property is subdivided into parcels of less than five acres or <br /> j5~ A condominium property regime is declared for the property having condominium <br /> units with an area equivalent to less than five acres Each unit shall be treated <br /> as a subdivision into lots of like size or <br /> The dedicated property or any portion thereof is sold by way of a conveyance <br /> which is subiect to conveyance tax under the terms of chapter 247 Hawaii <br /> Revised Statutes unless the director of finance submits a notarized affidavit <br /> s~ned by the owner to the bureau of conveyances stating that the land shall <br /> continue to be subiect to the full requirements of the dedication including the full <br /> penalties and rollback taxes imposed for violation or <br /> 8 <br /> <br />